Gabelli Healthcare & WellnessRx Trust (Gabelli Healthcare & WellnessRx Trust) Beneish M-Score : 0.00 (As of May. 01, 2024)

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What is Gabelli Healthcare & WellnessRx Trust Beneish M-Score?

Note: Financial institutions were excluded from the sample in Beneish paper when calculating Beneish M-Score. Thus, the prediction might not fit banks and insurance companies.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

The historical rank and industry rank for Gabelli Healthcare & WellnessRx Trust's Beneish M-Score or its related term are showing as below:

During the past 7 years, the highest Beneish M-Score of Gabelli Healthcare & WellnessRx Trust was 21.17. The lowest was -1.89. And the median was 9.64.

Gabelli Healthcare & WellnessRx Trust Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Gabelli Healthcare & WellnessRx Trust for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 *

0.528 *

0.404 *

0.892 *

0.115 *

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 *

4.679 *

0.327 *

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

This Year (Dec23) TTM:

Last Year (Dec22) TTM:

Total Receivables was $0.77 Mil.
Revenue was $1.24 Mil.
Gross Profit was $1.24 Mil.
Total Current Assets was $0.77 Mil.
Total Assets was $239.04 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.65 Mil.
Total Current Liabilities was $0.66 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.
Net Income was $0.42 Mil.
Gross Profit was $0.00 Mil.
Cash Flow from Operations was $6.61 Mil.

Total Receivables was $6.63 Mil.
Revenue was $-46.72 Mil.
Gross Profit was $-46.72 Mil.
Total Current Assets was $6.68 Mil.
Total Assets was $248.70 Mil.
Property, Plant and Equipment(Net PPE) was $0.00 Mil.
Depreciation, Depletion and Amortization(DDA) was $0.00 Mil.
Selling, General, & Admin. Expense(SGA) was $0.61 Mil.
Total Current Liabilities was $3.85 Mil.
Long-Term Debt & Capital Lease Obligation was $0.00 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(0.772 / 1.24)	/	(6.627 / -46.715)
	=	0.622581	/
	=

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(-46.715 / -46.715)	/	(1.24 / 1.24)
	=		/	1
	=

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (0.774 + 0) / 239.044)	/	(1 - (6.677 + 0) / 248.697)
	=	0.996762	/	0.973152
	=

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	1.24	/	-46.715
	=

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(0 / (0 + 0))	/	(0 / (0 + 0))
	=		/
	=

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(0.649 / 1.24)	/	(0.608 / -46.715)
	=	0.523387	/
	=

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((0 + 0.661) / 239.044)	/	((0 + 3.852) / 248.697)
	=	0.002765	/	0.015489
	=

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(0.423 - 0	-	6.607)	/	239.044
	=	-0.02587

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Gabelli Healthcare & WellnessRx Trust Beneish M-Score Related Terms

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Gabelli Healthcare & WellnessRx Trust (Gabelli Healthcare & WellnessRx Trust) Business Description

Industry

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Comparable Companies

Traded in Other Exchanges

N/A

Address

One Corporate Center, Rye, NY, USA, 10580-1422

Website

https://www.gabelli.com

Gabelli Healthcare & WellnessRx Trust operates as a diversified closed-end management investment company. The investment objective of the fund is the long-term growth of capital. The fund invests at least 80% of its assets in equity securities and income-producing securities of domestic & foreign companies in the healthcare and wellness industries. It invests in various sectors, of which Health Care Providers & Services, Food, Health Care Equipment and Supplies, and Pharmaceuticals account for the majority of the weightage.

Executives

Mario J Gabelli	director	191 MASON STREET, GREENWICH CT 06830
Agnes Mullady	director	ONE CORPORATE CENTER, RYE NY 10580
Calgary Avansino	director	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580
Leslie Fahrenkopf Foley	director	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580
Jonas Jeffrey J. Jr	director	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580
Peter D. Goldstein	officer: Secretary	249 ROYAL PALM WAY, SUITE 503, PALM BEACH FL 33480
James P Conn	director
John Chester Ball	officer: Treasurer	800 CONNECTICUT AVENUE, NORWALK CT 06854
Kuni Nakamura	director	1 MARTIN BUTLER COURT, RYE NY 10580
Joseph H Egan	officer: Treasurer	ONE CORPORATE CENTER, RYE NY 10580
Bruce N Alpert	officer: Acting President/Treasurer	C/O GAMCO INVESTORS, INC., ONE CORPORATE CENTER, RYE NY 10580
Thomas E Bratter	director	ONE CORPORATE CENTER, RYE NY 10580
Salvatore J Zizza	director	810 SEVENTH AVE, 27TH FLOOR, NEW YORK NY 10019
Gpj Retirement Partners, Llc	other: Limited Liability Company	1 CORPORATE CENTER, RYE NY 10580
Mjg Iv Limited Partnership	other: Limited Partnership